Student Loan Repayment Planner — SAVE vs IBR vs ICR vs Standard
Compare federal student loan repayment plans side-by-side. Enter your balance, rate, income, and family size to see monthly payment, total interest, and forgiven amount under Standard, SAVE, IBR, and ICR.
Count yourself, your spouse, and any dependents.
Related calculators
Frequently asked questions
What is the SAVE plan?
SAVE (Saving on a Valuable Education) is the U.S. Department of Education's income-driven repayment plan that replaced REPAYE in 2023. It sets payments at 5% of discretionary income for undergraduate loans (10% for graduate) and forgives any remaining balance after 20 years (undergrad) or 25 years (grad). SAVE also stops interest from capitalizing — if your payment doesn't cover the monthly interest, the government waives the difference. SAVE has been subject to court injunctions; check studentaid.gov for current status.
Which repayment plan has the lowest monthly payment?
It depends on your income, family size, and loan balance. Generally SAVE produces the lowest payment for undergraduate loans because of the 5% formula and the 225% FPL income exemption — a single filer earning $50,000 with $35,000 in loans typically pays under $100/month on SAVE versus $380/month on the Standard plan. Use the calculator above with your real numbers to see all four side-by-side.
Is forgiven student debt taxable?
Federal forgiveness under Public Service Loan Forgiveness (PSLF) is tax-free. Forgiveness under income-driven plans (SAVE, IBR, ICR) was tax-free through 2025 under the American Rescue Plan Act; Congress would need to extend that exemption for years 2026 onward. Some states tax forgiven debt even when the federal government does not. Plan for a potential one-time tax bill in the year of forgiveness.
Can I switch repayment plans later?
Yes. You can switch federal repayment plans at any time by submitting an application to your servicer. Payments you made under another income-driven plan generally count toward forgiveness under the new plan. Switching back to Standard often makes sense if your income rises enough that the IDR payment would exceed the Standard payment.